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Charlotte neighborhoods have it all. Some Charlotte neighborhoods offer the hustle and bustle of urban living, while others provide the slow, peaceful setting of the suburbs. People can be seen jogging, shopping, gardening or chatting on a bench along the sidewalks of the tree-lined streets of the Queen City. Children are often seen playing in the same neighborhood where retired couples gather for a game of cards. Charlotte neighborhoods have a friendly and livable atmosphere. Not surprisingly, Charlotte was the top pick for “Most Livable City” in April of 2004 by the Partners for Livable Communities. The Partners also commended Charlotte on its strong leadership and regional planning. With a strong road network and mass transit options, the average commute time is only 24.8 minutes.
This inviting atmosphere of Charlotte continues to attract newcomers. Charlotte ranked as the number 1 moving destination in 2004, based on the American Movers and Storage Association (AMSA). There are so many benefits of living in Charlotte that are unequaled anywhere else. Charlotte has been rated as one of the top places to live in America based on many quality of life factors, the variety of housing options and affordability.
Charlotte’s affordability shines when compared with other markets.
The Affordable Market
Charlotte has been ranked as one of the hottest and most affordable housing markets by U.S. News & World Report. The Carolinas Multiple Listing Service (CMLS) reports the 2005 average sales price of $219,069 for a single-family home in Charlotte.
As of the end of 2005 CMLS reported that over 16,000 homes in the county were sold, totaling $3,711,682,128 in sales volume. Analysts say Charlotte is not a hyper-inflated market, which protects homeowners here from the “real-estate bubble” seen in other areas of the country. Much of this can be attributed to the competitive practices of the construction industry in Charlotte.
A strong school system, impressive city services, and moderate household operating costs are just a few of the benefits of Charlotte neighborhoods. Utility costs are extremely competitive with other parts of the nation: Duke Power Company has a national reputation for efficient operation and low rates; Piedmont Natural Gas is equally recognized for its competitive rates. And the moderate climate helps by keeping heating and air conditioning costs low.
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Housing Affordability Index
Composite Rank
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City
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Average Sales Price
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Affordability Index
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1
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Houston, TX
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$151,600
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38
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2
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Memphis, TN
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188,050
|
47
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3
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Charlotte, NC
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204,336
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51
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4
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Dallas, TX
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261,325
|
65
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5
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Phoenix, AZ
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293,334
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73
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6
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Portland, OR
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304,650
|
76
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7
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Staten Island, NY
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596,000
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149
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8
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Chicago, IL
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815,000
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204
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9
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Irvine, CA
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896,125
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217
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10
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San Jose, CA
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1,272,625
|
318
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Cities compared have $20 billion or more in wholesale sales.
Note: Index is average cost of a single-family, 2200 sq. ft. home with 4 bedrooms, 2.5 bathrooms and a two-car garage
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Urban Sleek to Suburban Chic
The pleasant climate, abundant business opportunities and high quality of life in Charlotte continue to attract newcomers. In response, a large number of new neighborhoods offering modern amenities and ease of living have been developed. The Charlotte area has many new home communities in a variety of styles, price ranges and living environments.
In the center city, residents can choose sleek high-rise condos or historic Victorian homes. Getting around is simple, thanks to highly networked streets and roads, two interstate systems, and mass transit options.
Charlotte provides nearly unlimited choices of housing to suit any lifestyle, budget or other requirement. Whether close to the city or nestled in the suburbs, from historic homes to modern apartments and condominiums, newcomers can find the perfect place to call home.
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Historic and Established
Charlotte encourages the preservation of historic homes and construction of new housing that promotes strong neighborhoods through thoughtful land use and zoning practices. Substandard housing is being reduced in older areas of the city and revitalization efforts are ongoing. New development along the light rail corridors is going full steam, as transit-oriented developments mix uses to provide much sought after live-work environments.
Charlotte’s older neighborhoods exhibit a sense of the city’s past. Many have been kept in pristine condition, while others have been renovated to fit the needs of the 21st century. Concerted efforts to preserve and protect Charlotte’s oldest neighborhoods can be seen close to, inside, or farther out from the center city. Dilworth, a neighborhood of bungalow homes, tree-shaded streets and churches centered around LattaPark, has been reborn.Residents, working with local government, are renovating and restoring the old stately homes and a piece of Charlotte’s history.
Single Family Housing by Area
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Area
Reported
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No. of Homes
Listed
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Average Price
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1
|
1,453
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$211,034
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2
|
1,189
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153,856
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3
|
676
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175,883
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4
|
577
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381,652
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5
|
934
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631,608
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6
|
306
|
232,823
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7
|
523
|
157,669
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8
|
720
|
112,838
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9
|
767
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176,598
|
99
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7
|
589,342
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Source: Carolina Multiple Listing Services, Inc., Charlotte Regional Realtor Assocation, Jan. 2006
Waterfront Development
The Catawba River, Lake Norman and Lake Wylie provide exciting housing opportunities where you can get away from it all in a short commute from the central business district. Boating, fishing, water sports, golf and tennis can become part of your daily routine with Lake Wylie 20 minutes to the south and Lake Norman 30 minutes to the north of the center city. There is even a PGA-sanctioned golf development, Piper Glen. Master-planned residential communities such as The Sanctuary and The Palisades also provide unparalleled amenities in recreational living.
Other Options
For those who prefer the ease of multi-family locations, there are a number of options. Multi-story and townhouse condos can be found in the center city; near its impressive office buildings, museums and restaurants; in neighborhoods convenient to shopping, schools and entertainment; and in the suburbs near lakes, universities and other amenities. The average closing price was $161,541 in January 2006.
Apartments offer the same variety of location, price and amenities. Luxury complexes have swimming pools, tennis, clubhouses, social events and other features. The average rental rate is $674 for over 76,000 multi-family units in Mecklenburg County.
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Townhouse/Condo Listing by Area
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Area
Reported
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Listed Units
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Average Value
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1
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471
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$129,886
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2
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284
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96,295
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3
|
216
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323,752
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4
|
234
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209,012
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5
|
625
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288,747
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6
|
368
|
190,239
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7
|
244
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178,503
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8
|
89
|
116,233
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9
|
78
|
123,575
|
99
|
237
|
372,705
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Source: Carolina Multiple Listing Services, Inc., Charlotte Regional Realtor Association, Jan. 2006
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Charlotte Chamber of Commerce
330 S. Tryon St., PO Box 32785
Charlotte, NC 28232
(704) 378-1300
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telephone
704.401.2934 |
mobile
704.578.0037 |
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| Helen Adams Realty |
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